What Greek Tourism Stands to Lose With a ‘No’

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The day after a “no” on the July 5 referendum may find Greek tourism in a dismal predicament, according to Greek Tourism Confederation (SETE) board member Fotis Kokotos.

Writing in FortuneGreece, Mr Kokotos says that a country in social and economic turmoil cannot be a tourist destination. “Minor tourism endeavors may survive inside all-inclusive hotels or on board cruise ships, where tourists can enjoy Greece without coming into contact with the local community and its problems, but with the country’s primary tourist product: its climate, its natural wonders, its ancient culture.”

With 2015 being marked by massive cancellations and unemployment, one can only wonder how and if ever the tourism industry will be able to stand on its feet again. And should the answer to Sunday’s referendum be negative, the future of tourism will be bleak, with dropping or no investments until the government restores the overall investment climate.

Mr Kokotos concludes that, in reality, the referendum is about remaining in Europe.

“A ‘no’ on the referendum and bankruptcy will enter Greece and tourism in a long dark period.”